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Nanalysis Scientific Corp. is a leading provider of portable NMR machines and MRI technology for industrial and research applications. The company operates in two primary segments: Scientific Equipment and Security Services. In the Scientific Equipment business, Nanalysis develops and manufactures portable NMR spectrometers for laboratory and industrial markets. Their products are used in various industries and research labs globally. Recently, the company achieved significant revenue growth, introduced new innovative products, and expanded its Security Services business through a multi-million dollar government contract.
Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) reported strong first-quarter results for 2024, achieving a record revenue of $11.2 million, a 139% year-over-year increase. The growth was driven by a significant rise in product sales, service revenue, and flow-through inventory revenue. Product sales increased by 39% to $4.2 million, while service revenue surged by 252% to $4.7 million. The company's security service segment generated positive Adjusted EBITDA for the quarter. Gross margins improved notably, with product sales margins at 47% and service revenue margins at 8%. Adjusted EBITDA loss narrowed to $362K from $3.5M in the previous year, and net loss reduced to $2.5M from $4.3M. Strategic highlights include the completion of the airport security maintenance project phase-in, robust Benchtop NMR sales, and a successful $5M private placement offering. The company received $1.45M in funding for AI software development. A positive outlook is maintained for continued revenue growth and margin improvement throughout 2024.
Nanalysis Scientific Corp. (TSXV: NSCI, OTCQX: NSCIF, FRA: 1N1) has announced a conference call to discuss its Q1 2024 financial results. The call will be hosted by CEO Sean Krakiwsky and CFO Randall McRae on May 29, 2024, at 5:00 PM ET. Investors can participate via phone or online webcast. A European Q&A session will follow on May 30, 2024, at 8:30 AM ET. The webcast will be available on the investor relations section of the company’s website and archived for 90 days. Telephonic playback will be available for seven days post-conference.
Nanalysis Scientific Corp. announces fourth quarter and full year 2023 results with optimistic outlook for 2024. The Company reported revenue growth, improved gross margins, and reduced losses. Financial highlights show increased sales and service revenue, with positive trends in product sales and security services. The Company is focused on innovation, cost-cutting measures, and strategic partnerships to drive profitability. Notable achievements include new revenue records, completion of the Airport Security Project phase-in, and funding for AI software development.
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